Archive for March, 2016

Market Update | Multiple Offer Offers

posted on March 17th, 2016 | filed under: Buying Strategies, Market Update, NoCo SD Market Conditions, Uncategorized

Trends At A Glance Mar 2015Have you ever been in a situation where your offer is competing with one or more offers? Multiple offers do crop up, especially in desirable neighborhoods, which are those defined by:

• Low-crime,
• Good schools,
• Stable, long-term residents,
• Neighborhood amenities, such as parks, libraries, tennis and/or basketball courts, and curb appeal,
• Short commute times and/or public transportation, among other things.

When deciding to buy a home in a multiple bid environment, there are some things buyers must do and some things they can do to increase the chances of winning the offer war.

First, all–cash offers are hard to beat, with no need for appraisals and the ability for the buyer to close quickly.

Yet, they can be beat. First, don’t just get a preapproval letter, get a pre-approval letter on steroids.

That kind of pre-approval letter will include some words from the lender verifying that you are a well qualified buyer. Have the mortgage broker or agent provide some financial information about you and your offer. Also, have your mortgage broker take as much of the loan through the process as possible.

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posted by Jeff DeChamplain // Leave A Comment

Jeff DeChamplain